2014 unit code: BUS80005 (formerly HBS580)
Please note that unit codes are changing from 2014.
|Credit points||12.5 Credit Points|
One teaching period
|Contact hours||36 hours|
A core unit in the following courses:
Graduate Diploma of Management (MAV) - executive education course
Aims and objectives
This unit provides students with skills and practice of strategic management and critical thinking techniques in turbulent environments. In addition, the subject develops skills in using strategic and foresight tools and critical evaluation of strategic alternatives in the context of small to medium enterprises involved in single industry, as well as strategic business units of large corporations. Its main focus is not only the generation of viable strategic alternatives to gain competitive advantage but also developing a viable implementation plan.
- On completion of this unit, students should be able to:Critically evaluate the complexity of the business environment.
- Apply advanced knowledge of foresight to challenge and refresh strategic thinking.
- Demonstrate critical thinking and apply knowledge to address complex issues across a range of audiences.
- Communicate proficiently and in a professional manner to diverse audiences.
- Critically evaluate how an organisation can be brought into being or if already in existence, how it can be developed for the future.
- Develop an advanced strategic plan based on an informed and a well thought out set of strategies.
Case studies, experiential exercises, lecture/ discussion and a team-based strategy project.
Generic skills outcomes
- Leadership: Interdependence; Engaging with Ambiguity and Paradox; Effective Action and Influence
- Global Focus: Transportable Management Skills
- Entrepreneurship and Innovation: Enterprise creation and/or Development; Practising the Art of Creative Destruction, and Strategic Foresight
- Life-Long Learning: Reflective Inquiry; Hearing and Learning from Direct Feedback; Insight into Personal Blocks to Learning; Capacity to Source and Evaluate Information and Conceptual Frameworks; Team-based Learning
- Overview of Strategic Management – past, present and future trends
- The future of strategy and relevance of non-linear reality in entrepreneurship, innovation, and its implication on competitive advantage – external environment analysis
- Creative destruction versus new business creation – identification and evaluation of business opportunity
- Evaluating and managing the internal environment
- Sorting the Strategy Tool Box
- Developing strategic alternatives and selection of viable strategy
- Implementing the strategy – allocation of requisite resources
- Strategy review, evaluation and control
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.